Evolving Retail Landscape Challenges Appraisers: Valuation Magazine

June 29, 2017 08:00 AM

CHICAGO (June 29, 2017) –As retailers quickly evolve to stay competitive with ecommerce, appraisers should understand how these changes can affect the valuation of retail properties, according to an article published in Valuation magazine’s second quarter 2017 issue.

Valuation magazine is a quarterly publication of the Appraisal Institute, the nation’s largest professional association of real estate appraisers.

The magazine’s cover story, “Retail Rebirth,” looks at the innovations being implemented by the retail sector, including urban malls, multi-use properties and creative repurposing of empty big-box stores, and how understanding these changes can help appraisers better assist retailers, lenders and investors. It reports that the death of bricks-and-mortar retail stores are greatly exaggerated.

In “Big Country,” appraisers and lenders talk about the opportunities and demands appraisers encounter working in rural communities. The market, which has a shortage of valuation professionals in some areas, can be attractive to appraisers starting careers. However, keeping up with workloads, understanding how crop prices can influence property values and gathering data on long-held properties can be challenging.

In “Growth Industry” Denver-based appraiser Cody Gale, MAI, discusses how the legalization of marijuana and the increasing acceptance of its production are affecting real estate values, and why he changed his mind about taking on appraisal assignments for marijuana production facilities.

The Appraisal Institute is a global professional association of real estate appraisers, with nearly 19,000 professionals in almost 60 countries throughout the world. Its mission is to advance professionalism and ethics, global standards, methodologies, and practices through the professional development of property economics worldwide. Organized in 1932, the Appraisal Institute advocates equal opportunity and nondiscrimination in the appraisal profession and conducts its activities in accordance with applicable federal, state and local laws. Individuals of the Appraisal Institute benefit from an array of professional education and advocacy programs, and may hold the prestigious MAI, SRPA, SRA, AI-GRS and AI-RRS designations. Learn more at www.appraisalinstitute.org.